Azerbaijani parliament completes discussing state budget for 2020

Azerbaijani parliament completes discussing state budget for 2020

The bill "On the Azerbaijani state budget for 2020" was discussed at a joint meeting of committees of the Azerbaijani parliament, Trend reports.

The state budget revenues in 2020 will amount to over 24.1 billion manat ($14.2 billion), expenses – over 26.9 billion manat ($15.8 billion) while the consolidated budget revenues – over 27.5 billion manat ($16.2 billion).

The upper limit of the budget expenditures has been set at over 29.5 billion manat ($17.4 billion), which is 2.1 billion manat ($1.2 billion) or 7.7 percent more than the corresponding figure in 2019.

The share of oil revenues in total budget revenues is envisaged at 13.5 billion manat ($7.9 billion) or 56.1 percent, while non-oil revenues - 10.6 billion manat ($6.2 billion) or 43.9 percent.

Over 11.4 billion manat ($6.7 billion) is planned to be transferred from the State Oil Fund of the Azerbaijan Republic (SOFAZ) to the state budget in 2020, which is by 14.3 million manat ($8.4 billion) less than this year.

After the discussions, Azerbaijani Minister of Finance Samir Sharifov answered questions of the meeting participants and stressed that a number of proposals will be considered. After the discussions, the bill was recommended for consideration at a plenary meeting of the parliament.

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